People Are Getting Tricked Into Paying Fees To Track Down Their Own Property

With an estimated $32 billion of unclaimed
property floating around the U.S., millions of consumers
leave cash on the table in the form of unclaimed paychecks,
stocks, and even bank accounts each year.

The Ohio Department of Commerce is warning
consumers of an online scam that claims it will help residents
recover unclaimed property for a monthly fee.

They've filed a cease and desist order against a company called
Unclaimed Money LLC, alleging it has been illegally charging
consumers fees to help them track down property.

First, they get consumers to sign up for membership fees that
range from $49.95 for a month to $79.95 for a year. Then
"members" get a hand searching for unclaimed funds in their name
and access to a claims form to send to the Department of
Commerce.

The only problem was all the forms turned out to be fakes.

"When they signed it and mailed it to the Division, staff
recognized the phony forms and that the property ID# belonged
to someone else," the DOC says.

There's a reason billions of dollars in unclaimed property are
lying around. People simply don't know where to find it and states
struggle to get the message out via social media and the
Web.

To find your property, the best place to start would
be NAUPA's website. It's free and maintains
a massive database of unclaimed property from state to
state. If you're an Ohio resident, you can easily
search for yourself for free on Ohio's website.